American outdoor apparel brand REI has partnered with Capital One to launch the 'REI Co-Op Mastercard,' a specialty credit card that provides REI shoppers with 5% back in rewards for every purchase. Aligning with REI's outdoor ethos, the credit card is also sustainably produced; it is made from 85% recycled materials.
Other notable benefits of the REI Co-Op Mastercard include a $100 REI gift card bonus for those signing up for a new cardholder account and a $50 REI Co-op annual statement credit towards booking the brand's signature 'REI Co-op Experiences.'
"We chose Capital One to be our Mastercard partner because of their ability to support the co-op’s expanding needs, and align to the co-op’s broader philanthropy goals," REI VP of customer and brand services Pardis Ghorbani said in a statement. "Most importantly, this card offers our members a wide range of benefits and more great ways to help them pursue their outdoor passions."
Eco-Friendly Credit Cards
REI Partners with Capital One to Launch the 'REI Co-op Mastercard'
Trend Themes
1. Sustainable Credit Card - The growing trend of sustainable credit cards made from recycled materials opens opportunities for eco-friendly credit card innovations.
2. Rewards Credit Card - Reward-based credit cards are a popular trend due to the appeal of getting perks and bonuses while spending money.
3. Brand-specific Credit Cards - Brand loyalty promoted by charging customers to make purchases with specific co-branded cards can be an opportunity for businesses to boost customer engagement.
Industry Implications
1. Retail Industry - The retail industry can capitalize on the trend of sustainable credit cards and offer existing customers a way to shop smarter and make eco-friendly choices.
2. Credit Card Industry - As reward-based credit cards grow in popularity, credit card companies can innovate and create new ways to attract customers with unique rewards and offers.
3. Travel and Tourism Industry - Brand-specific credit cards that offer bonuses and discounts on travel and tourism experiences can increase customer loyalty for businesses in this industry.